A client constructed a new $26,000,000 hospital with bond financing and needed a strategy to reposition their old hospital located 5 miles from the new facility. Bedford Lending was engaged to develop a finance solution and worked closely with a market specialist to indentify the highest and best use for the building. The property was renovated into an assisted living and memory impaired facility and receives referalls from the sister hospital.

Results: Bedford Lending underwrote and funded a HUD loan which credit enhanced a tax exempt bond. The loan was structured with a 40 year, fully amortizing non-recourse note and provided 95% financing.